Economy was in better shape at the end of '09

The UK economy fared better than previously thought in the final quarter of 2009, revised data from the Office for National Statistics show.

The economy, as measured by gross domestic product (GDP), grew by 0.3% against the previous estimate of just 0.1% growth. However, the revision upwards was in part due to revisions down to the third quarter figures.

GDP was down by 3.3% on the corresponding quarter of 2008.

On a calendar year basis, GDP was down by 5.0% on 2008 last year.

The production industries increased 0.1% in the fourth quarter and in that figure, manufacturing increased 0.4%.

Production was down by 6.3% on the same quarter 2008 and manufacturing by 5.5%.

Output of the service industries is thought to have risen by 0.1% on the previous quarter, but was down by 2.7% on the same quarter 2008.

www.statistics.gov.uk/pdfdir/gdp0110.pdf